This founding document of the bitcoin movement lays out why a “purely peer-to-peer” electronic payment mechanism is necessary and how bitcoins answer that need. Bitcoin enthusiasts claim that the new currency will replace intangible trust in paper money and in financial intermediaries with tangible code. But unless you’re a software expert, you’ll need to trust that the system’s code is safe. Meanwhile, media reports of price swings, spurts and crashes risk painting bitcoins as just another e-speculation. getAbstract recommends this technospeak-laden paper to IT and finance professionals and to anyone eager for a glimpse into what could be the future of money.
In this summary, you will learn
- How the bitcoin concept works and
- Why bitcoins enable “purely peer-to-peer” electronic payments.
About the Author
Satoshi Nakamoto is the alias for the anonymous developer or developers of bitcoin.
Comment on this summary
Customers who read this summary also read
The New York Times, 2017
Etienne Gagnon et al.
Federal Reserve Board, 2016
World Bank Group
World Bank, 2016
R. Jesse McWaters et al.
World Economic Forum, 2015